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Article: AZERBAIJAN - Upstream Petroleum Service Businesses.
- Article from:
- APS Review Oil Market Trends
- Article date:
- July 7, 2008
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In May 2000 Socar signed a ten-year co-operation agreement with PetroAlliance of the US for the petroleum service industry, including exploration and development services both onshore and offshore.
Socar wants additional co-operation agreements and JVs with foreign companies to cover the widest range of upstream equipment and services possible. Other projects include construction of marine pipelines and reconstruction and retrofitting of ships for use in drilling and laying of marine pipelines.
Socar's Gas Production: Socar's production of natural gas has declined steadily in recent years, having fallen to 4.5 BCM in 2005, compared to 8 BCM in 1991. This ...